The Methods Research Of The PPP Project Risk-sharing Based On Game Theory

With the further reform and opening up and the market economy is gradually formed, more and more private enterprise joined the tide of national infrastructure construction. Thus it appeared more and more PPP projects, namely the public-private partnership. Whether the main risk of the projects can be allocated fairly and reasonably become the key to success because of most PPP projects have the characteristic of large investment, long time and high risk. Therefore, the research of the project risk sharing not only provides the decision-making basis for rational sharing risk but also guarantees the smooth completion of the project. This shows that the government is for people and promotes the development of harmonious society.Firstly, this paper defines the subject and objects of PPP project risk-sharing and clears the influence factors of the subject decision and the source of the object. It classifies the share risks and the non-share risks. And drawing the risk preference degrees of project parties is the discriminate basis of the share risk and the non-share risk. And it points out that the risks faced two prerequisite. Secondly, it constructs the bargaining game model of the share risks based on complete information condition and incomplete information condition through using the bargaining game knowledge and combining the asymmetry status of project parties. And drawing respectively the subgame Nash equilibrium solution and perfect Bayesian equilibrium solution of model. Finally, it analyzes the result through combining the Xiangjiang comprehensive hub project of Changsha. It obtains the bear share of public sectors and private sectors to the share risks. And it puts forward a series of system security and related suggestions.This paper research the risk sharing based on the game thoughts system and fully. And it puts the two equilibrium solution as scientific distribution basis. It also points out the private sector will have more advantages in risk-sharing negotiations under complete information. This topic research not only complements the limitations of PPP project risk sharing studying in theoretical but also provides the decision-making basis for project parties’distribution risk reasonably in practice. It also guarantees the smooth progress of the project and lays a good foundation for healthy development of PPP model in China.